Forex Market

The Swiss National Bank (SNB) will maintain its current negative interest rates, according to its Chairman, Thomas Jordan. “I fear it will take some time before we get there again,” Jordan said on Tuesday, as quoted by Reuters. The remarks came during a webinar with the International Monetary Fund (IMF). …

The US federal budget deficit increased to $864 billion in June with increased spending on COVID-19 stimulus and relief programs coupled with reduced taxes, data by the US Department of Treasury showed. The year-to-date fiscal deficit stands at $2.7 trillion, Reuters reported. Expenditure increased by 223% to $1.1 trillion, a …

US stocks are set to open with a modest rebound after its sharp losses on Monday over California headlines about COVID 19 cases, although bank quarterly earnings reports due later may be a game-changer. At 11:40 GMT, S&P 500 Futures trader 13 points, or 0.4%, higher, Nasdaq Futures up 48 …

FX option expiries for July 14 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 2.1bn1.1320 949m1.1325 1.1bn1.1350 1.1bn1.1400 615m – GBP/USD: GBP amounts         1.2500 257m1.2640 249m – USD/JPY: USD amounts          106.50 412m106.75 605m – NZD/USD: NZD amounts 0.6480 248m

The New York Stock Exchange (NYSE) indices showed a varied performance on Monday, as the Nasdaq and S&P 500 closed lower with some of Wall Street biggest tech names registering losses. The Dow Jones Industrial Average was able to close on marginal gains, rising by by 10.50    or 0.04%, at …

The Euro (EUR) has surged against major currencies during Monday’s trading, supported by the decline of the US Dollar (USD). A highly anticipated meeting for the European Central Bank (ECB) is set to take place on Thursday, while on Friday the European Union Leaders will discuss the COVID-19 crisis stimulus …

The US Dollar (USD) is showing a weak performance during the first session of the week, despite the lack of major economic data. The United States continues to hold the highest number of coronavirus disease (COVID-19) cases worldwide, with multiple record-high daily surges in recent weeks. The Dollar Index (DXY), …

The Federal Reserve Bank of New York June 2020 Survey of Consumer Expectations showed a continued gradual decline in pessimism about household financial conditions. Although consumers overall remain less optimistic about earnings growth, income growth, and job finding expectations compared to the pre-COVID-19 environment, some indicators showed considerable improvements in …

German Chancellor Angela Merkel expressed doubts regarding whether members of the European Union will reach an agreement on the coronavirus recovery fund or not. An EU summit will discuss on July 17-18 the planned EUR 750 billion ($840 billion) economic stimulus package. The meeting will also discuss the next seven-year …

The President of the New York Federal Reserve Bank, John Williams, reiterated plans to phase out the use of Libor rate by the end of 2021, Reuters reported. “It doesn’t matter whether you are a large global bank or a local company with a handful of employees, you need to …